BF63 - Weekly Bitcoin News - 5/7/23

Weekly market update / outlook and Bitcoin news: Fed reveals 722 banks reported unrealized losses over 50% of capital as concerns over US banking crisis grow Texas House advances gold-backed digital currency bill Montana passes bill protecting Bitcoin from unique requirements New York Attorney General seeks new crypto powers for state regulators Bitcoin provides insurance against fiat currency failure, says Validus Power Corp's Greg Foss The business case for implementing Bitcoin's Lightning Network Bitcoin network overwhelmed by 390,000 unconfirmed transactions and surging fees Binance closes Bitcoin withdrawals amid congestion on the Bitcoin network US Justice Department investigates Binance for Russia related sanctions violations:  Bloomberg Check out this week's substack "A look at Bitcoin Adoption"   Substack: Bitcoin Fortress Twitter: Bitcoin Fortress Books: Amazon Author Page   Mentioned in this week's Podcast: https://news.bitcoin.com/fed-reveals-722-banks-reported-unrealized-losses-over-50-of-capital-as-concerns-over-us-banking-crisis-grow/ https://news.bitcoin.com/texas-house-advances-gold-backed-digital-currency-bill/ https://bitcoinmagazine.com/legal/montana-passes-bill-protecting-bitcoin-mining https://www.coindesk.com/policy/2023/05/05/new-york-attorney-general-seeks-new-crypto-powers-for-state-regulators-report/ https://news.bitcoin.com/bitcoin-provides-insurance-against-fiat-currency-failure-says-validus-power-corp-s-greg-foss/ https://bitcoinmagazine.com/business/implement-bitcoin-lightning-in-your-business https://news.bitcoin.com/bitcoin-network-overwhelmed-by-390000-unconfirmed-transactions-and-surging-fees/ https://cointelegraph.com/news/binance-closes-btc-withdrawals-amid-congestion-on-the-bitcoin-network https://www.coindesk.com/policy/2023/05/06/us-justice-department-investigating-binance-for-russia-related-sanctions-violations-bloomberg/ https://bitcoinfortress.substack.com/p/a-look-at-bitcoin-adoption